ShepWave Update On Trading Signal for QQQQ. April 6
by ShepWave.com
Posted: 4/6/2006 14:18 EST
The 5 minute chart of the QQQQ shows today's action. Notice we have NOT been triggered in SHORT yet using 60 minute charts.
Now.. For agressive Traders you could SELL the QQQQ at anytime keeping in mind that the throwover may not be over. Potential entry at $42.85
Keep a stop that meets risk tolerance.
We will still be looking for a break of $42.38 to give longer term trade confirmation.
Your first target is of course $42.38. A break of this area should take the QQQQ to $42.08 quickly. From there I will show further analysis of trade management in the Regular Updates.
Refer to previous blog for longer term trading analysis.
I will update and post as needed.
Shep
Trade the QQQQ.
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Elliott Wave Theory .. Stock Market Timing and Analysis.
| Reference: Shepwave.com is a technical analysis site for the Major U.S. stock indexes. We use Elliott Wave theory along with our proprietary indicators to give analysis for the Dow Industrials, Nadaq 100 and S&P 500 indexes. We specialize in trading the QQQ and DIA. |
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